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Hackers break into cryptocurrency exchange platform and steal nearly $100 Million in Japan heist 

Hackers break into cryptocurrency exchange platform and steal nearly $100 Million in Japan heist 

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Hackers break into cryptocurrency exchange platform and steal nearly $100 Million in Japan heist

Hackers have targeted Liquid, a popular Japanese cryptocurrency exchange platform, with nearly $100 million (£73 million) stolen.

The company announced that some of its digital currency wallets had been “compromised,” making this the second major cryptocurrency theft to occur in recent months.

Poly Network, a digital token platform, was at the centre of a $600 million heist last week.

‘Warm’ or ‘hot’ digital wallets are usually based online and designed to make it easier for crypto users to access their cryptocurrencies, whereas ‘cold’ wallets are offline and more difficult to access, and thus usually more secure.

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Hackers break into cryptocurrency exchange platform and steal nearly $100 Million in Japan heist 
Hackers break into cryptocurrency exchange platform and steal nearly $100 Million in Japan heist

“We regret to inform you that the #LiquidGlobal warm wallets have been compromised; we are transferring assets to the cold wallet,” the company said on Twitter on Friday, August 20.

According to reports, approximately $97 million in cryptocurrencies, primarily Bitcoin and Ethereum tokens, were taken.

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Liquid stated that it is tracking the movement of the stolen cryptocurrencies and is collaborating with other exchanges to freeze and recover the assets.

Liquid is present in over 100 countries and serves millions of customers worldwide. It was established in 2014.

Liquid is not the only Japanese cryptocurrency platform to have been robbed.

MtGox, a Tokyo-based exchange, went bankrupt in 2014 after nearly $500 million in bitcoin went missing, while Coincheck was hacked in a $530 million heist in 2018.

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